Partnership Wealth Management LLC Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Partnership Wealth Management LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,746 shares of the pharmaceutical company’s stock after selling 618 shares during the period. Partnership Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $730,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC increased its stake in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Fortitude Family Office LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Finally, Baystate Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after buying an additional 25 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the transaction, the executive vice president now owns 53,523 shares in the company, valued at $23,502,484.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,086 shares of company stock worth $11,983,266. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target for the company in a report on Thursday, April 11th. Guggenheim upped their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. UBS Group lowered their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Piper Sandler upped their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $443.55.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $2.67 during mid-day trading on Friday, hitting $468.71. 2,825,683 shares of the company were exchanged, compared to its average volume of 1,229,930. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $437.05 and a 200-day simple moving average of $422.03. Vertex Pharmaceuticals Incorporated has a 1-year low of $335.82 and a 1-year high of $486.42. The firm has a market cap of $120.95 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.67 earnings per share. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.